Tax News - Moore Thompson
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Tax News

From time to time, we produce information for clients on a number of topical and important issues, some of which can be found below:

Independent watchdog questions quarterly business tax updates - May 13, 2016
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The Administrative Burdens Advisory Board (ABAB) has said it has serious concerns about the government’s proposals to introduce quarterly reporting, similar to tax returns, for businesses. The body, which provides independent oversight of HM Revenue & Customs (HMRC) policies, said the quarterly updates will add an extra burden to businesses due to increased record keeping … Continue reading Independent watchdog questions quarterly business tax updates


New rules on Entrepreneurs’ Relief - May 13, 2016
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The Chancellor announced new rules on Entrepreneurs’ Relief in this year’s Budget, lessening some of the challenging restrictions he introduced last year. However, this year’s changes look set to lead to problems of their own. Entrepreneurs’ Relief was firmly in the Chancellor’s sights last year as he faced political pressure to take action on tax … Continue reading New rules on Entrepreneurs’ Relief


Inheritance Tax – a quiet Budget but still plenty to consider when estate planning - April 18, 2016
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Although the Chancellor had plenty of surprises in his Spring Budget, there were no big revelations when it came to inheritance tax. However, announcements from previous statements are still in the pipeline and it is worth making note of one particular change which will impact home owners as part of their estate planning. From the … Continue reading Inheritance Tax – a quiet Budget but still plenty to consider when estate planning


Helping hand in the dark for struggling landlords - April 18, 2016
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In the last year the buy-to-let sector has been hit by a number of new government measures aimed at increasing the Treasury’s tax take from the sector. However, landlords may not be aware of the HM Revenue & Customs (HMRC) Let Property Campaign; a scheme that offers an amnesty to individuals who have failed to … Continue reading Helping hand in the dark for struggling landlords


Government seeks out tax-efficient remuneration - April 18, 2016
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The move to tax loans to participators at a higher rate was not announced by the Chancellor in his main speech to Parliament. However, further investigation of the Budget documents has revealed that from this month, the rate of tax payable by a company on any balances lent to an individual participator or related unincorporated … Continue reading Government seeks out tax-efficient remuneration


Personal tax regime experiences shake up in the Budget - April 18, 2016
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The Chancellor used his latest Budget announcement to deliver a raft of changes to the personal tax regime. George Osborne said that his latest Budget would be a statement for the next generation and he delivered on this promise by introducing a new Lifetime ISA. The announcement of a Lifetime ISA could prove a boon … Continue reading Personal tax regime experiences shake up in the Budget


Budget Statement 2016 - March 16, 2016
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Introduction On 16th March 2016, the Chancellor George Osborne stepped up to the despatch box to deliver his eighth Budget. This was arguably one of the most challenging speeches he has had to deliver since he took charge of the Treasury almost six years ago, made in the shadow of economic uncertainty and an imminent … Continue reading Budget Statement 2016


Changes to the buy-to-let property market - March 8, 2016
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The buy-to-let market is set to change following Chancellor George Osborne’s announcement last November that landlords would pay a three per cent Stamp Duty Land Tax (SDLT) surcharge, with effect from 1 April 2016. In addition, mortgage interest tax relief changes, due to be phased in from April 2017, will mean thousands of buy-to-let landlords will … Continue reading Changes to the buy-to-let property market


Cap on workplace pension contributions sparks concerns - March 8, 2016
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Some of the UK’s biggest companies are said to be preparing to impose a £10,000 a year cap on workplace pension contributions; a sharp reduction from the current £40,000 annual allowance. Employers that hire tens of thousands of staff are apparently looking to apply a blanket £10,000 limit on what can be paid into a … Continue reading Cap on workplace pension contributions sparks concerns


Are you ready for the upcoming changes to dividends? - March 8, 2016
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Dividends have been a very tax-efficient way of making savings in National Insurance Contributions (NIC) and Income Tax contributions for a number of years, with many business owners and shareholders choosing a smaller salary, plus an additional remuneration package paid as dividends. However, this is all set to change from next month as the income … Continue reading Are you ready for the upcoming changes to dividends?


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